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USA Today says Sept 1-24 Seattle sales are off 47%

AmazedRenterAmazedRenter
edited September 2007 in Seattle Real Estate
Seattle IS different: it's leading the nation in September sales declines.

CITIES HAVING A BAD MONTH
In several cities, existing-home sales so far in September are off sharply from the same period last year. Some examples:

August Sept. 1-24
Seattle -18% -47%
Tucson -29% -44%
Baltimore -20% -42%
St. Louis -24% -29%
Cleveland -11% -19%

Source: Re/Max International

http://www.usatoday.com/money/economy/h ... titialskip

Comments

  • EastSiderEastSider
    Great news! Thanks for the post.
  • laxtosnocolaxtosnoco
    My favorite part of the article is the obligatory quote at the end from Lawrence Yun, NAR senior economist:

    With sales falling for two years now, Yun says, "It's my firm view there is significant pent-up demand."

    Uh-huh.
  • EastSiderEastSider
    laxtosnoco wrote:
    My favorite part of the article is the obligatory quote at the end from Lawrence Yun, NAR senior economist:

    With sales falling for two years now, Yun says, "It's my firm view there is significant pent-up demand."

    Uh-huh.

    That *may be* true is some cities that have been seeing a slowdown for the past 2+ years. In Seattle, we seem to be just entering the slowdown.
  • TJ_98370TJ_98370
    Wow! Sales are decreasing. Inventory is increasing. At the risk of belaboring the obvious, I predict that we are going to look back some day and identify the credit crunch / tightened lending standards as the major event that popped the real estate bubble -
  • georgegeorge
    Gee, why isn't that story in the Seattle Times?


    :lol: :roll: :wink:
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